Bloomberg Law
March 1, 2021, 11:01 AM

Biden’s All-of-Government Climate Pledge Begins to Take Shape

Courtney Rozen
Courtney Rozen
Aaron Kessler
Aaron Kessler
Investigative Data Journalist

The Biden Administration’s decision to throw out the Trump White House’s method for calculating the social cost of carbon was one of the first tangible actions on the president’s lengthy climate change to-do list as he works to convince the world that the White House is once again serious about a global response to warming temperatures.

The approach, announced Friday, pegs the social cost of carbon at $51 a ton for 2021 after adjusting for inflation at a 3% discount rate. The Biden plan, which replaces a Trump-era method that was as low as $1, will be used on ...

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